All posts tagged: DraftKings

NFL expands betting partnerships with DraftKings, FanDuel and Fanatics for 2026

NFL expands betting partnerships with DraftKings, FanDuel and Fanatics for 2026

Published by skeptic

The NFL will head into the 2026 season with three official sports betting partners after signing multi-year deals with DraftKings, FanDuel and Fanatics Betting and Gaming. DraftKings and FanDuel have held that status since 2021. Fanatics now joins them through a broader relationship with the league that already covers collectibles and official NFL merchandise. Making it official this season. Fanatics Sportsbook & Casino is now an Official Sports Betting and Online Casino Partner of the @nfl, bringing more fans closer to the game they love during the 2026-2027 season. pic.twitter.com/9HZAmIKyLt — Fanatics Sports & Casino (@FanaticsSports) August 27, 2026 Under the agreements, each operator can use NFL branding to market online and retail sportsbooks. Their partnerships also extend to league events such as the Super Bowl and NFL Draft, including hospitality opportunities and appearances across NFL-owned digital platforms. All three will get official real-time play-by-play data, proprietary Next Gen Stats and BetVision through Genius Sports, the NFL’s exclusive data distribution partner. “We are thrilled to have three world-class partners in the sports betting category,” said …

DraftKings revenue falls despite betting growth as Predictions expansion accelerates

DraftKings revenue falls despite betting growth as Predictions expansion accelerates

Published by skeptic

DraftKings reported weaker second-quarter revenue even as more customers placed bets and used its platform. Favorable sports results for bettors and heavier promotional spending to attract new users reduced the online gambling company’s revenue and profitability during the quarter. The Boston-based operator posted revenue of $1.44 billion for the three months ended June 30, down 5% from $1.51 billion a year earlier. The company said bettor-friendly outcomes and increased promotional reinvestment tied to customer acquisition across its Sportsbook and Predictions products were the main reasons for the decline. DraftKings will host its Q2 earnings report tomorrow morning at 8:30 a.m. It has released the results today. DraftKings reported $1.443 billion in revenue, a decrease of $69 million (5%), compared with Q2 of 2025. pic.twitter.com/0Mk6bDBlAK — RLinnehanSR (@RLinnehanSR) August 6, 2026 Customer activity, however, continued moving higher. Sports Consumer Volume, which measures settled wagers and trades across Sportsbook and Prediction Markets, climbed 15% year over year to $13.1 billion from $11.5 billion. Monthly Unique Payers rose about 9% to 3.6 million, although average revenue per monthly …

DraftKings faces second class action over Predictions sports event contracts platform claims

DraftKings faces second class action over Predictions sports event contracts platform claims

Published by skeptic

DraftKings is being sued in a second proposed class action that claims its Predictions platform operates as an unlicensed sportsbook, with sports bets packaged for customers as financial-style “event contracts.” The case was filed Monday (August 3) in Massachusetts federal court by Jason Gordon, Arie Weissmann and Johnny Harris. DraftKings Inc. and its wholly owned subsidiary GUS III LLC, which operates as DraftKings Predictions, are named as defendants. The three plaintiffs want to represent other Predictions users who they allege lost money. According to the complaint, Predictions debuted in December 2025 and has since become available in states where DraftKings does not have authorization to run a licensed sportsbook. Customers can wager money on sports outcomes, the lawsuit alleges, even though DraftKings calls the transactions “trading,” “predictions” and “event contracts.” The plaintiffs say those labels do not alter what customers are doing: risking money on an outcome for the chance of receiving a payout. Plaintiffs in second class action lawsuit say DraftKings Predictions functions as an unlicensed sportsbook To support that argument, the complaint points …

DraftKings faces nationwide class action over Predictions platform legality dispute intensifies

DraftKings faces nationwide class action over Predictions platform legality dispute intensifies

Published by skeptic

DraftKings is facing a proposed nationwide class action accusing the company of running an illegal online sports betting business through its DraftKings Predictions platform in states where traditional online sportsbooks are still prohibited. The complaint, filed July 28 in the U.S. District Court for the District of Massachusetts and reviewed by ReadWrite, names DraftKings Inc. and subsidiary GUS III LLC, which operates as DraftKings Predictions. Plaintiffs argue the company presented sports wagers as federally regulated event contracts to sidestep state gambling laws while leading customers to believe the product was legally distinct from conventional sportsbooks. California resident Michael Chan brought the lawsuit on behalf of himself and a proposed class of consumers who allegedly lost money using DraftKings Predictions. According to the complaint, Chan registered for the platform while in California and “was not informed by DraftKings that Predictions is an unlicensed sportsbook when he wagered and lost money on the app.” The filing argues DraftKings relies on its established sportsbook brand, technology and customer base to market what plaintiffs describe as the functional equivalent …

DraftKings expands multistate poker network as Michigan broadens regulated online competition

DraftKings expands multistate poker network as Michigan broadens regulated online competition

Published by skeptic

DraftKings has officially expanded its online poker platform into a shared player network covering Michigan, Pennsylvania, and New Jersey after securing approval from the Michigan Gaming Control Board. The regulator announced the decision Monday (July 13), while the multi-state platform itself went live on July 8, 2026. In Michigan, DraftKings operates its poker product through the Bay Mills Indian Community. State officials said the operator satisfied every requirement needed to offer interstate online poker following what they described as a comprehensive regulatory review. DraftKings joins Michigan interstate poker ecosystem The approval means eligible Michigan players can now compete against opponents in Pennsylvania and New Jersey through one combined player pool instead of being limited to games within state borders. The larger network is expected to increase game availability and support bigger tournament fields by bringing together more participants. Michigan became a member of the Multi-State Internet Gaming Agreement in 2022. The compact also includes Delaware, Nevada, New Jersey, Pennsylvania, and West Virginia. Before joining the agreement, online poker players located in Michigan could only face …

Michael Burry buys Flutter, DraftKings shares betting prediction-market threat will fade

Michael Burry buys Flutter, DraftKings shares betting prediction-market threat will fade

Published by Sam Flores

July 8 : Michael Burry, the investor famed for predicting and profiting from the 2008 U.S. housing market collapse, has bought shares of sports-betting platforms Flutter Entertainment and DraftKings, wagering regulatory scrutiny will eventually curb the threat posed by prediction markets. Burry said on Wednesday he bought Flutter at about $107 a share and DraftKings “in the low $26s.” Together, the investments make up a full-sized position weighted roughly 60/40 toward Flutter, though the investor said he may make each a full position in the future. Prediction markets are the main threat facing the two companies, Burry said in a post on his website, because their event contracts can be offered nationwide under Commodity Futures Trading Commission oversight while avoiding state gaming taxes. Prediction markets let traders buy and sell contracts tied to the outcome of events, including sports, elections and economic data. Burry said these platforms operate in a loophole alongside a heavily regulated and taxed gambling industry. “I believe that the political climate will not tolerate this,” he wrote, adding that he expects prediction …

DraftKings faces nationwide class action over Predictions platform legality dispute intensifies

DraftKings pushes deeper into federally regulated sports prediction markets through Railbird

Published by skeptic

DraftKings is moving further into federally supervised prediction markets after Railbird Exchange submitted its first group of event contract certifications to the Commodity Futures Trading Commission. The filings appeared in the CFTC’s Designated Contract Market products database under the name “REX.” They include six binary option templates connected to sports results and player performances: GAMEWIN, GAMESPREAD, GAMEPROPERTY, ENTITYSTAT, ENTITYOUTPERFORM, and ENTITYACHIEVEMENT. Regulators classified the submissions under “Event” and “Binary Option” products after the certifications were filed May 22. @DraftKings' DCM, Railbird Exchange, LLC, d/b/a DKeX, just filed its first product certifications with the CFTC. 6 binary option templates in the "Event" category — GAMEWIN, GAMESPREAD, GAMEPROPERTY, ENTITYSTAT, ENTITYOUTPERFORM, ENTITYACHIEVEMENT. Template-style filing (not… — PredictionMarketPulse (@PredMP) May 26, 2026 It appears to be the strongest signal so far that DraftKings plans to build a much larger sports-focused prediction market business through Railbird Exchange, the federally licensed exchange operator the company bought last year. News of the filing first surfaced on X through PredictionMarketPulse, which called the submission Railbird’s “first product certifications with the CFTC.” DraftKings and …

DraftKings fights NCAA trademark lawsuit over March Madness betting promotions claims

DraftKings fights NCAA trademark lawsuit over March Madness betting promotions claims

Published by skeptic

DraftKings is pushing back hard against the NCAA’s trademark lawsuit, telling a federal court the sports betting company legally used phrases connected to the men’s basketball tournament and did nothing that would confuse customers about any relationship with the college sports organization. In a response filed in the U.S. District Court for the Southern District of Indiana and seen by ReadWrite, the sportsbook operator denied allegations that its promotions and betting products improperly traded on NCAA branding. The company said the NCAA “has no valid claim against it” and argued the association is not entitled to damages or other relief. NEW: DraftKings answered NCAA’s lawsuit, denying trademark infringement over March Madness betting terms and demanding jury trial in Indiana now @RWW pic.twitter.com/Yes03H0NpH — Suswati Basu (@suswatibasu) May 19, 2026 DraftKings acknowledged using phrases tied to the tournament, including “March Madness,” “Sweet 16,” “Elite 8,” “Final 4,” and “March Mania.” Still, the company rejected accusations involving trademark infringement, unfair competition, dilution, and false association under the Lanham Act. The NCAA filed suit earlier this year after …

DraftKings cofounder blasts Kalshi and prediction markets amid growing sportsbook industry tensions

DraftKings cofounder blasts Kalshi and prediction markets amid growing sportsbook industry tensions

Published by skeptic

DraftKings co-founder Matt Kalish spent part of Sunday (May 17) attacking prediction-market operator Kalshi, arguing that sports exchanges still fall far short of the experience most bettors expect from traditional sportsbooks. In a lengthy series of social media posts, Kalish pushed back against growing excitement around exchange-style betting products. He said the technology and usability behind prediction markets remain years behind regulated sportsbook apps that already dominate the US market. Idk what people are smoking, there’s not a single exchange product experience for normal people that is remotely close to the delivering the caliber of experience that regulated sportsbooks do. They are 2-3 years of development away (before regulatory touches the product at all) — Matt Kalish (@mattkalish) May 17, 2026 “There’s not a single exchange product experience for normal people that is remotely close to the delivering the caliber of experience that regulated sportsbooks do,” Kalish wrote. “They are 2-3 years of development away.” Kalish said the current audience for sports prediction markets is made up mostly of highly experienced traders, professional bettors, and …

DraftKings turns profitable as prediction markets become key growth strategy

DraftKings turns profitable as prediction markets become key growth strategy

Published by skeptic

DraftKings entered 2026 with the kind of earnings report investors have long been waiting for, signaling that years of aggressive expansion are beginning to translate into sustained profitability. The Boston-based sportsbook and online gaming operator reported $1.65 billion in first-quarter revenue on Thursday, a 17% increase from the same period last year. Improved sportsbook margins and steady customer engagement helped the company post a $21 million profit, reversing a loss recorded a year earlier. The results suggest DraftKings is moving beyond the costly customer-acquisition phase that defined the early years of legalized sports betting expansion across the United States. Company executives said the core sportsbook business is now generating enough cash flow to fund newer initiatives without undermining profitability. We are off to a fantastic start to the year as our first quarter results exceeded our expectations,” Chief Executive Officer Jason Robins said in the company’s earnings release. “Our core business is strong, and profitability is inflecting. That gives us the firepower to press our advantage in Predictions.” Prediction markets emerge as a major growth …